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1099 for 2021

The IRS rules for issuance of 1099K are below.  

If required, they are issued by Braintree/PayPal to Fitli and we will, in turn, provide them to you.  This usually happens within a couple days of January 31.

In settlement of third-party payment network transactions above the minimum reporting thresholds as follows:

For returns for calendar years prior to 2022:

Gross payments that exceed $20,000, AND 

More than 200 such transactions

There are also a couple states that have a lower threshold.

New rules will come in 2022….  the above will be changing to this:

For returns for calendar years after 2021:

Gross payments that exceed $600, AND

Any number of transactions

That's about it! Any questions? Chat with us or send us an email to support@fitli.com